Under the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance, Chapter 629, Laws of Hong Kong (Opens a new window) (“the Ordinance”), any person arriving in Hong Kong at a specified control point set out in Schedule 1 to the Ordinance and in possession of a large quantity of currency and bearer negotiable instruments (“CBNIs”) (i.e. CBNIs of a total value more than HKD120,000) must make a written declaration to a Customs officer, using the Red Channel under the Red and Green Channel System. Any person arriving in Hong Kong other than a specified control point, or any person about to leave Hong Kong, must upon the requirement of a Customs officer disclose whether he/she is in possession of a large quantity of CBNIs. If so, he/she must make a written declaration.

An adult who accompanies a young person (i.e. a person under the age of 16 years) and knows that the young person is in possession of a large quantity of CBNIs, must declare or disclose for the young person.

For a large quantity of CBNIs imported or exported on a cross-boundary conveyance as cargo in one batch, an advance electronic declaration must be made to the Customs and Excise Department via the Currency and Bearer Negotiable Instruments Declaration System (Opens a new window) .

For details, please refer to the following link:

• Enforcement
• Passenger Clearance
• Cargo Clearance

New Arrangement for First Registration Tax Concessions for Electric Vehicles

The Government announced on 28 February 2018 the details of the new first registration tax (FRT) concessions for different types of electric vehicles (EV) as follows –

1. FRT concessions for electric vehicles: FRT for electric private cars will continue to be waived up to $97,500 and FRT for electric commercial vehicles, electric motor cycles and electric motor tricycles will be waived in full from 1 April 2018 to 31 March 2021 (both dates inclusive); and
2. “One-for-one Replacement” Scheme for electric private cars: Eligible private car owners who buy a new electric private car and scrap an eligible old private car they own to enjoy a higher FRT concession of up to $250,000 from 28 February 2018 to 31 March 2021 (both dates inclusive).

For enquiries, please call Transport Department Hong Kong Licensing Office at 2804 2270 or the 1823 Call Centre.

You may visit the following website of Transport Department for more details:
http://www.td.gov.hk/en/public services/licences and permits/vehicle first registration/new frt concessions for electric vehicles 2018/index.html

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